XRP Targets $10 Amid Consolidation, Key Resistance Levels in Focus
XRP‘s recent bullish momentum has stalled, with the token now entering a consolidation phase.
Despite showing signs of potential growth, it has yet to gain the fundamental push needed for a sustained rally. Analysts, however, believe that breaking key resistance levels could pave the way for significant price milestones, with targets as high as $10 being discussed.
After dipping to $2.74 during a market slump, XRP rebounded to $3.10, driven by a 6% surge and increased investor interest. Analysts suggest that breaking through the $4.6-$5 resistance zone could set the stage for further growth.
This range is seen as both a critical hurdle and a potential profit-taking area for traders. With favorable market conditions, some experts believe XRP could reach $8 and possibly $10 over time.
While bullish scenarios are possible, XRP faces potential pullbacks. Analysts highlight $3.37 as a critical level, where liquidations of $340 million in short positions across major exchanges could temporarily disrupt upward momentum. However, such events might also generate buying pressure, offering a springboard for further growth.
XRP’s journey toward higher price targets depends on breaking resistance zones and maintaining market confidence. For now, $4.6 remains the next major milestone, while $3.37 serves as a key level to monitor in the short term.
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